November 20, 2015 - Retirement Board Regular Meeting Agenda
Section I: Regular Business:
Minutes:
Minutes of October 16, 2015 Regular Board Meeting
Minutes of October 16, 2015 Executive Session
Warrants:
Warrant # 9, Dated September 30, 2015: $ 5,428,385.40 Final
Warrant # 10, Dated October 31, 2015: $ 1,436,499.15 Partial
Warrant # 11, Dated November 30, 2015: $ 149,369.74 Partial
Warrant # 12, Dated December 31, 2015: $ 3,873.13 Partial
Trial Balance September 2015: $145,774,598.29
Public Comment:
Section II: General Correspondence:
PERAC Memo's
Memo #23/2015: New Fraud Prevention Poster
Memo #24/2015: Survey for PERAC Technology Improvement Project
Investments:
Anthony Tranghese of FIA will discuss a change in Templeton's fee structure.
Annual Investment Manager Performance Interviews:
• Babson Capital
• RhumbLine Advisors
• Templeton International
• Acadian International
Legal RFP:
Board to review and discuss the proposals received from the Legal Services RFP.
Section III: Membership:
Application for Section 9 Benefits:
Christina Colarusso, spouse of deceased retiree Anthony Colarusso, has applied for Section 9 benefits. Mr. Colarusso was retired under ADR, opt b, effective February 2, 2015. All necessary documents have been submitted.
New Hires:
Town:
9% Brindisi, Derek, Group 1, Asst. Town Manager
Perm Full-time, $1730.77 weekly
Start Date: November 2, 2015
9% Brumble, Joshua, Group 4, Firefighter
Perm. Full-time, $987.85 weekly
Start Date: November 16, 2015
8% Chisholm, Lisa, Group 1, Library Associate
Perm. Full-time, $712.47 weekly
Start Date: November 23, 2015
9% Rose, Steven, Group 1, Fire Apparatus Mechanic
Perm. Full-time, $858.73 weekly
Start Date: October 14, 2015
9% Santino, Carl, Group 4, Firefighter
Perm. Full-time, $987.85 weekly
Start Date: November 16, 2015
9% Schmit, Anne Marie, Group 1, Administrative Assistant
Perm. Full-time, $732.31 weekly
Start Date: October 29, 2015
9% Sexton, Nathaniel, Group 4, Firefighter
Perm. Full-time, $987.85 weekly
Start Date: November 16, 2015
9% Yule, Brian, Group 4, Firefighter
Perm. Full-time, $987.85 weekly
Start Date: November 16, 2015
School:
9% Lopes, Kim Marie, Group 1, Cafeteria Worker
Perm. Full-time, $778.04 bi-weekly
Start Date: October 19, 2015
9% Moulton, Brian, Group 1, Custodian
Perm. Full-time, $1,448.81 bi-weekly
Start Date: October 13, 2015
9% Polleys, Laura, Group 1, Payroll Clerk
Perm. Full-time, $2,296.80 bi-weekly
Start Date: November 20, 2015
Transfers:
Town:
Buscemi, Ronald, Group 1, Fire Mechanic
8 Years, 10 Months Creditable Service (10/10/06-8/28/15)
Total Transfer to Barnstable County Retirement Association: $42,126.96
School:
Newman, Tracey, Group 1, Technology & Media Secretary
2 Years, 9 Months Creditable Service (12/2/13-9/11/15)
Total Transfer to Hingham Retirement Board: $10,504.01
Olding, Kathleen, Group 1, Paraprofessional
7 Years, 6 Months Creditable Service (11/26/07-6/25/15)
Total Transfer to Hingham Retirement Board: $6,365.15
Refunds:
School:
Downton, April, Group 1, Special Needs Aide
7 Years 3 Months Creditable Service (10/22/07-4/17/15)
Total Refund Including FWT: $6,030.82
Buybacks/Makeups/3(8)(c) Liability:
Town
Dunbar, George, Group 1, GIS Coordinator, IT Department requests to purchase two (2) years, three (3) months of prior Temporary/Seasonal service with the Engineering Department for the period of July 13, 2005 – October 14, 2007. Total makeup amount is $6,944.56
Flood, Anthony, Group 4, Police Department has requested buyback of prior Permanent Intermittent Police Service for a period of three (3) years eight (8) months (June 21, 1987 – February 19, 1991).
Total Buyback Amount $4,448.47
Smolinsky, Stephen, Group 4, Police Department has requested a buyback of prior Permanent Intermittent Police Service for a period of five (5) years (January 25, 1989-January 23, 1994).
Total Buyback Amount $2,904.52
Tavares, Richard, Group 4, Police Department, has requested a buyback of prior Permanent Intermittent Police Service for a period of three (3) years, seven (7) months (January 25, 1989 – September 6, 1992).
Total Buyback Amount $1,944.56
Vecchi, Scott, Group 4, Police Department, has requested a buyback of four (4) years of prior Military Service.
Total Buyback Amount $3,145.43
School
Algar, Cheryl, Group 1, Paraprofessional, requests to purchase five (5) months of prior Part-time Paraprofessional service with the School Department for the period of January 1, 2014-August 26, 2014.
Total Makeup Amount $567.15
Retirements:
Town:
Zappala, Paul, Group 4, Fire Fighter
41 years, 4 months service
Superannuation retirement, opt c
Retirement date: November 16, 2015
O'Brien, Dinah, L., Group 1, Director of Community Resources
33 years, 2 months
Superannuation retirement, opt c
Retirement Date: January 4, 2016
Pittsley, Susan, Group 1, Payroll Clerk
21 years, 11 months service
Superannuation retirement, opt b
Retirement date: January 15, 2016
School:
Andrews, Donna M, Group 1, Payroll Clerk
23 years, 7 months service
Superannuation retirement, opt b
Retirement date: December 11, 2015
Barrus, Donna, Group 1, Cafeteria Worker
20 years, 0 months
Superannuation option b
Retirement date: October 23, 2015
Guertin, Elizabeth, Group 1, Main Office Secretary
10 years, 0 months service
Superannuation retirement, opt b
Retirement date: November 30, 2015
Usher, Robert, Group 1, Custodian
29 years, 6 months service
Superannuation retirement, opt b
Retirement date: October 30, 2015
Section IV: New Business:
COLA Vote FY/2017:
Board to set a date to hold COLA Vote meeting for FY/2017
Section V: Executive Session:
Pursuant to MGL Chapter 30A, Section 21 (a)(3), and(5) the Board will enter into executive session to discuss and vote the ADR application of Roland Santos, Group 4, former Police Department Lieutenant.
Pursuant to MGL Chapter 30A, Section 21 (a)(3), and(5) the Board will enter into executive session to hear from its Attorney regarding ongoing litigation.
Next Meeting: